Class Review

Class Review is Lloyd’s newest report that, for the first time, offers benchmarking analysis comparing Lloyd’s business with its competitors in key territories, broken down by specialty class of business.

If you wish to access the documents please email Market Intelligence at WMID@lloyds.com.

Key findings of the report stand out:

The non-life market has grown from US$ 2.15bn in 2003 to US$ 4.74bn in 2012, with an average cumulative ILR of 43% in ten years.

New legislations and regulations have been introduced to provide greater clarity and transparency in the insurance sector which will, in turn, increase competition.

Classes such as Aviation and Contractor’s All Risks will benefit from both future mega projects and Kuala Lumpur’s current position as a key aviation hub.

There is opportunity for specialty lines that are not currently widely offered in Malaysia.

Retakaful is an opportunity for Lloyd’s, as larger more complex takaful risks are usually reinsured on a fac basis with conventional foreign reinsurers.

Labuan continues to take advantage of the benefit of being given the "right of second refusal" for Malaysian reinsurance business.

MI Analyst

Shruti Sharma

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